Bitcoin Price Slumps Below $20,000 For the First Time Since 2020 as Ethereum and the Rest of the Market Dips
Bitcoin is struggling to overcome the bearish market as its value shows no sign of recovering from the drop. Consequently, the BTC price fell below $20,000 on June 18, the first time since 2020. According to data from TradingView, BTC/USD hit a low of $19,066, dropping below $20,000 for the first time since December 2020. […]
US Crypto Investors Made 6 Times More Profit Than Any Other Country in 2021 Says Latest Report
As the adoption of cryptocurrency spreads worldwide, there has been an increase in crypto investors who are pushing the finance industry into total digitalisation. The United States has one of the highest amounts of crypto investors. So far, they have earned crypto gains nearly six times higher in total than the United Kingdom, the second-highest […]
Crypto Traders Face Massive Liquidation as Dogecoin, Solana Holders Lose Big
Many cryptocurrencies dropped below the support levels resulting in crypto future traders experiencing a loss of over $400 million on Wednesday. This outcome comes after the hawkish comments from the U.S. Federal Reserve. Third Highest Liquidation in 2022 In addition, the liquidation figures were the third-highest of 2022, following nearly a billion dollars worth of […]
Digital Asset Management Company Bakkt Reveals Plans to Provide Ethereum Services
Ethereum has been receiving a lot of attention recently following NFT and DeFi growth causing it to hit a new all-time high above $4,600 on Wednesday (3th of November). Bakkt Announces Support for Ethereum According to an announcement on November 5, Bakkt Holdings stated that the company will soon be allowing its customers to buy, […]
Will Ethereum’s London Hard Fork Cause Increase in Gas Fees?
With the launch of the Ethereum London Hard Fork, there was brief turbulence in the ETH supply. Specifically, the high burn rate led to a short-term increase in gas fees. This action resulted in about 800 deflationary blocks. Ethereum Increase in Network Transaction Fees After London hard fork Launch The much anticipated London hard fork […]
23% of all Ether (ETH) is now locked in smart contracts
The Ethereum network continues to grow in anticipation of Ethereum 2.0. The latest data shows that 23% of all Ether (ETH) are now locked in smart contracts, a quarter of which are on the Beacon chain. A quarter of Ether on Ethereum smart contracts This latest development was reported by Anthony Sassano, the co-founder of […]
What Determines The Price Of Bitcoin
As we go deeper into the world of Bitcoin another set of commonly asked questions are, what determines the price of Bitcoin, and why does the price of the bitcoin rise and fall sporadically. The answer to this question is simple. The major factor that determines the price of Bitcoin is demand and supply. Other […]